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Answered

Marco deposited $500 in a savings account earning 4% interest over 5 years.

What was the total amount of interest earned at the end of 5 years?

A.
$40

B.
$50

C.
$100

D.
$200

Answer :

hartnn
use the formula
i = prt
p = principle amount  = 500
r = rate of interest  = 4% = 0.04
t = time in years = 5

i = 500*0.04*5 = 100

so the amount of interest earned is $100
C

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